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Fund size
$4.1M
NOV 2026
Total cost ratio
1.38%
per year
Distributions
Annually
Since inception
9.9 yrs
NOV 2016
The Fund provides investors with a simple way to obtain cost-effective geared exposure to the change in value of the U.S. Dollar relative to the Australian Dollar (i.e. it aims to provide a magnified “long” exposure to the value of the U.S. Dollar relative to the Australian Dollar).
US equity 0.00%Non-US equity 0.00%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 0.00 | 0.00 | — |
| Bond | 0.00 | 0.00 | — |
| Cash | 100.00 | 100.00 | — |
| Other | 0.00 | 0.00 | — |
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| Cash | 100.00 | — | 5.9M | — | — | — | — |
Fund (NAV) Market price
1M
-1.3
3M
0.7
6M
3.9
YTD
-6.6
1Y
-8.9
3Y
-1.5
5Y
3.8
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | -1.34 | 1.32 | -1.22 | — |
| 3 months | 0.71 | 0.94 | 1.06 | — |
| 6 months | 3.89 | 1.36 | 4.60 | — |
| Year to date | -6.58 | -5.41 | -5.51 | — |
| 1 year | -8.94 | -8.30 | -7.68 | — |
| 3 years p.a. | -1.55 | -1.15 | -0.19 | — |
| 5 years p.a. | 3.82 | 4.10 | 5.25 | — |
Returns to 31 OCT 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Total Capital
2017
-20.7
2018
25.1
2019
0.5
2020
-27.5
2021
12.1
2022
12.7
2023
6.7
2024
31.3
2025
-12.7
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | -12.72 | -16.89 | — |
| 2024 | 31.35 | 25.24 | — |
| 2023 | 6.69 | -2.23 | — |
| 2022 | 12.67 | 7.17 | — |
| 2021 | 12.06 | 11.95 | — |
| 2020 | -27.54 | -27.94 | — |
| 2019 | 0.48 | -15.13 | — |
| 2018 | 25.15 | 21.04 | — |
| 2017 | -20.69 | -19.46 | — |
FY18
5.8
FY19
12.1
FY20
-4.1
FY21
-20.4
FY22
17.9
FY23
9.8
FY24
5.3
FY25
7.2
FY26
-10.2
| Financial year | Total % |
|---|---|
| Financial year to date | -3.08 |
| Year to 30 JUN 2026 | -10.25 |
| Year to 30 JUN 2025 | 7.22 |
| Year to 30 JUN 2024 | 5.27 |
| Year to 30 JUN 2023 | 9.85 |
| Year to 30 JUN 2022 | 17.94 |
| Year to 30 JUN 2021 | -20.40 |
| Year to 30 JUN 2020 | -4.14 |
| Year to 30 JUN 2019 | 12.07 |
| Year to 30 JUN 2018 | 5.85 |
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | -57.28 | -3.34 | -2.87 | — |
| Beta | -172.78 | 65.00 | -25.65 | — |
| R-squared | 2.80 | 1.49 | 0.65 | — |
| Standard deviation | 12.09 | 12.06 | 12.92 | — |
| Sharpe ratio | -0.92 | -0.42 | 0.08 | — |
| Sortino ratio | -1.04 | -0.58 | 0.11 | — |
| Tracking error | 22.23 | 21.17 | 22.94 | — |
| Information ratio | -0.93 | -0.44 | 0.08 | — |
| Upside capture % | -415.97 | -125.61 | 78.26 | — |
| Downside capture % | — | — | -54,198.63 | — |
| Maximum drawdown % | -19.64 | -26.80 | -26.80 | — |
Measured against Morningstar AUD 1M Cash GR AUD with RBA Bank accepted Bills 90 Days as the risk-free rate, to 31 OCT 2026. Maximum drawdown is on gross returns at the latest quarter end.
Risk score
123.5
Morningstar Portfolio Risk Score at 30 SEP 2026.
2024
0.5
2023
0.8
2022
0.7
2021
0.8
2018
2.6
2017
0.4
| Year | Per unit ($) |
|---|---|
| 2024 | 0.4754 |
| 2023 | 0.7693 |
| 2022 | 0.6730 |
| 2021 | 0.7967 |
| 2018 | 2.6379 |
| 2017 | 0.4369 |
| Ex Date | Per unit ($) |
|---|---|
| 1 JUL 2025 | 0.4754 |
| 1 JUL 2024 | 0.7693 |
| 3 JUL 2023 | 0.6730 |
| 1 JUL 2022 | 0.7967 |
| 1 JUL 2019 | 2.6379 |
| 2 JUL 2018 | 0.4369 |
Announcements
No announcements stored for this company yet.
With credit markets pricing in Fed rate hikes the $US has still struggled to make any headway through the psychological 100 resistance area. With the peace deal being agreed this morning we believe the next 5% move is likely on the downside, with both its hawkish pivot and safety cushion likely to dissipate.
The Greenback received a strong safety bid last week which will likely continue - at least early this week with the $A opening down 0.6% this morning, under 70c. There is no clear risk/reward opportunity in the $US but our “Gut Feel” is it trades higher over the coming weeks.
With the Fed looking less likely to cut rates aggressively over the next 12-18 months the Greenback has found a fresh area of equilibrium in the 96-102 area. In similar fashion to bonds the FX markets are likely to remain quiet until we can get a better read on the strength of the US economy.
Last week, the dollar struggled as President Donald Trump increased his calls for rate cuts ahead of the looming deadline for trade deals, the Jobs Report increased the possibility he will finally get what he wants.
The US dollar traded down to fresh 3-week lows last week following Moody’s downgrade and the weak bond auctions; not a great recipe for a market already down over 10% year-to-date.
The aptly named YANK ETF is also traded on the ASX, it is effectively the opposite to the AUDS looking to track the $US against the Aussie, i.e. it rallies when the $A falls against the Greenback - not our preferred scenario over the coming years.
MM is neutral towards the yen around 157
MM bearish towards the US$ around the 101 level
MM is neutral towards the $US index around the 99 area
MM is bearish on the YANK ETF
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